- October 18th, 2019
UK GAS-Prompt prices soar as outages curb supply
Prompt British wholesale gas prices soared on Friday morning as a series of unplanned outages at gas sites reliant on the Forties pipeline system left the market undersupplied.
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Prompt British wholesale gas prices soared on Friday morning as a series of unplanned outages at gas sites reliant on the Forties pipeline system left the market undersupplied.
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Our September 2019 Energy Newsletter is now available! ›
Oil prices slid on Friday on jitters over demand from China after the world’s largest oil importer recorded its weakest quarter of economic growth in nearly three decades, dragged down by a trade dispute with the United States.
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Prospects of rising wind power volumes and of France emerging out of a two-day utility workers’ strike that curbed capacity raised European day-ahead power prices on Thursday, while demand eased across the region.
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British prompt wholesale gas prices were flat to lower on Thursday morning on a balanced system and lower consumption expected for next week.
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Oil prices fell by 1% on Thursday after industry data showed a larger-than-expected build-up in stocks in the United States, although losses were limited by comments by U.S. Treasury Secretary Steven Mnuchin on a U.S.-China trade deal.
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British prompt wholesale gas prices fell on Wednesday as a rise in Norway’s total exports to Europe and strong wind power output caused an oversupply in the system.
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Oil prices rose on Wednesday, tracking gains in equities, as investors pinned hopes on a potential Brexit deal between Britain and the European Union and on signals from OPEC and its allies that further supply curbs could be possible.
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Oil prices fell on Tuesday, after heavy losses in the previous session, as two days of weak Chinese data added to worries about the top crude oil importer’s energy demand growth.
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